Kotak Mahindra attracts two to debut loan

12 Apr 2011

Indian private bank Kotak Mahindra has attracted two commitments to a $100m loan that it now plans to boost by 20%, making the most of its first outing into the dollar loan market.

Two banks have joined the deal with commitment of $20m each, allowing the four bookrunners to scale back their $25m commitments to $20m and allowing the borrower to increase the deal to $120m.

“Kotak is doing surprisingly well,” said a banker close to the deal. “They did a pretty ...

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